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Published on 16/04/2021 5:57:22 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 16 April 2021 By Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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BULLION

GOLD

Widening MACD oscillators suggest the prevalence of positivity. Prices excepted to trade positive biased in today’s session. However, a 46100 can induce weakness.

 

SILVER

Prevailing bullish sentiments may continue in the counter. However, un unexpected fall below Bollinger lower band support of 67770 may negate buying expectations

 

ENERGY

CRUDEOIL

Technical Commentary Next stage of buying is expected to see only by voluminous trades above 4770. A vertical fall below 4660 can initiate selling pressure.

 

NATURAL GAS

Prices may appear firmer above the upside hurdle of 201. Whereas, inability of breaking the same level can induce correction as well.

 

BASE METALS

Copper

Present buying momentum may strengthen if prices trade above previous days high. Weakness is expected only below 700 region.

 

NICKEL

Intraday movement expected to be within a narrow trading region. Break above Bollinger upper band level of 1241 can strengthen the momentum.

 

BASE METALS

Zinc

Firm trades above 230.40 region can strengthen the buying momentum. Else corrective dips may be witnessed in the intraday

 

Lead

Prices may appear firmer above the 168.20 region. Holding the same resistance can bring prices lower.

 

BASE METALS

Aluminium

Intraday moves may have mild corrections unless the trend line level of 190.30 is not breached. Major weakness is expected only below 184.80.

 

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